Qualified retirement plans—including profit sharing, money purchase, and 401(k) plans—receive special tax benefits by meeting the requirements set forth by the IRS. Employers or plan sponsors are responsible for restating their plan documents to avoid a plan qualification failure.
Read MoreWhen an HSA owner turns 65, must the entire HSA be distributed? Can an HSA owner who is 65 or older use HSA assets to pay Medicare premiums? What happens if an HSA owner age 65 or older uses HSA assets for nonqualified expenses?
Read MoreIs it possible to reduce or suspend 401(k) or 403(b) safe harbor contributions mid-year? Can a safe harbor 401(k) plan be amended for other plan provisions mid-year? Is it possible to add safe harbor provisions mid-year?
Read MoreAre there any drawbacks to a spouse beneficiary under age 59½ treating an inherited IRA as her own? Can an IRA beneficiary with an IRA distribution check payable to him establish an inherited IRA? What do we do after mistakenly rolling over inherited 401(k) assets to a nonspouse beneficiary’s IRA?
Read MoreHow does the recently added safe harbor hardship distribution reason apply for an individual who has been affected by a federally declared disaster? What tax relief is available for retirement plan disaster distributions?
Read MoreDo all nonspouse beneficiaries have to use the 10-year rule? Are there benefits to the 10-year rule? Are there any special distinctions about the 10-year rule to be aware of?
Read MoreWhat is the 403(b) plan restatement? What is the deadline for restating 403(b) plan documents? What if an employer is unable to restate its 403(b) document timely?
Read MoreWhat is the new 10-year rule for beneficiary distributions? Who is subject to the 10-year rule? Is the required beginning date still important? Are the options different for an estate?
Read MoreWhat is the deadline for an employer to establish a qualified retirement plan? Can an employer establish a plan in 2020 for the 2019 plan year? If an employer establishes a plan for the prior year, can elective deferrals be contributed for that prior year?
Read MoreWhen does the five-year waiting period start for purposes of a Roth IRA qualified distribution? If a Roth IRA owner has multiple Roth IRAs, does each account have its own five-year period? What happens to the five-year period when a Roth IRA owner dies?
Read MoreWhat is a related employer relationship? Why does it matter if the employer is part of a related employer relationship for retirement plan purposes? What should the employer consider in terms of the plan and how are participants affected?
Read MoreWhat is UBTI? What types of income are exempt from UBTI? Who is responsible for determining whether an IRA has incurred UBTI? How is the UBTI tax filed and paid?
Read MoreWhat does the universal availability requirement in 403(b) plans mean? Does the universal availability rule apply to all organizations? How does the employer satisfy the universal availability requirement?
Read MoreCan an HSA owner who changes to family HDHP coverage mid-year contribute the full HSA family contribution amount for the year? If an HSA owner has family HDHP coverage and she and her spouse each have an HSA, how much can each contribute to their respective HSAs? If a nondependent child under age 26 is still covered by a parent’s HDHP, may that child contribute to his own HSA?
Read MoreWhen can employees withdraw money from a 401(k) plan while they are still working? Are there other ways that employees can take out their elective deferrals before age 59½ as a distribution? Can employees take loans from their 401(k) plans?
Read MoreHow should an RMD be satisfied for the year of an IRA owner’s death? How should it be reported? Should the beneficiary’s share of the IRA assets be moved to an inherited IRA before paying out the RMD?
Read MoreMay an individual roll over his 401(k) balance to a Puerto Rico retirement savings plan without tax consequences? May a Puerto Rico plan be moved to a 401(k) plan as a tax-deferred rollover?
Read MoreWhat is a trust and why would someone name a trust as an IRA beneficiary? What distribution options does a trust beneficiary of an IRA have? How are distributions to a trust reported to the IRS? Can the underlying beneficiaries of a trust set up their own inherited IRAs?
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